Alain Belda Continued Quotations

We are not satisfied with these results, ... We are confident that the restructuring of our primary and fabricating businesses, coupled with our continued focus on implementing the Alcoa business system and our commitment to grow the company, will enable us to resume sustainable savings and profitable growth in 2002 and beyond.

As we move forward to the fourth quarter, Alcoa expects to benefit from the current strength in aluminum prices, the continued integration of our recent acquisitions, the cost-reduction program and the seasonal strength of our packaging and consumer business,

However, as these markets continued to decline in the third quarter, it became likely that even with our efforts, third-quarter earnings will probably fall below the 2000 second-quarter level.